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INTRASOFT TECHNOLOGIES LIMITED REPORTS Q2 REVENUES UP 42% TO Rs. 219 Cr.

PRESS RELEASE

Mumbai, November 7, 2016

INTRASOFT TECHNOLOGIES LIMITED REPORTS


Q2 REVENUES UP 42% TO Rs. 219 Cr AND
PAT UP 225% TO Rs. 5.40 Cr
IntraSoft Technologies Ltd. (BSE: 533181, NSE: ISFT) today announced its Unaudited Consolidated
Financial Results for the Quarter ended September 30, 2016.
Q2 FY2016-17 HIGHLIGHTS: (All comparisons are with Q2 FY2015-16 figures)

Total Income at Rs. 218.98 Cr. up by 42% from Rs. 153.92 Cr.

Profit after Tax (PAT) at Rs 5.40 Cr. up by 225% from Rs 1.66 Cr.

H1 FY2016-17 HIGHLIGHTS: (All comparisons are with H1 FY2015-16 figures)

Total Income at Rs. 441.15 Cr. up by 62% from Rs. 271.59 Cr.

Profit after Tax (PAT) at Rs 8.05 Cr. up by 179% from Rs 2.89 Cr.

Trailing Twelve Months ended 30th September, 2016 HIGHLIGHTS:

Total Income at Rs. 886.31 Cr.

MANAGEMENTS STATEMENT
Commenting on the results, Mr. Arvind Kajaria, Managing Director said, "We are pleased with our
performance this past quarter where clearly, benefits from automation translated into an increase in
margins. We continue to believe, that as we achieve economies of scale, it will lead to better
efficiencies enabling us to have a competitive edge in an ever expanding market.
We are well positioned to enter the holiday season with key improvements across assortment,
merchandising and marketing - and look forward to further strengthen our position as one of the top
growing online retailers in US.
In October, our subsidiary 123Stores, Inc, secured a $8.0 million Line of Credit from UPS Capital, a
subsidiary of UPS, one of the worlds largest package delivery company and a provider of supply
chain management solutions. This facility provides added funding to support our growth and strategic
initiatives. This financial flexibility will substantially lower our cost of capital, drive significant revenues
and profitability to meet our strategic goals as we continue to build long-term shareholder value. We
believe that the leverage that this facility affords us will enable us to eliminate further equity dilution.

Copyright IntraSoft Technologies Limited, All Rights Reserved.

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INTRASOFT TECHNOLOGIES LIMITED REPORTS Q2 REVENUES UP 42% TO Rs. 219 Cr.

Highlights
E-COMMERCE BUSINESS
The E-Commerce business saw tremendous performance growth and improvement in all parameters
during the quarter.
Revenue:
Particulars
E-Commerce Revenue

Q2 FY 2016-17

Q2 FY 2015-16

Growth (%)

215.01 Cr.

150.59 Cr.

43%

E-Commerce Revenues increased from Rs 150.59 Cr. to Rs 215.01 Cr. during the quarter, a growth of
43% Y-o-Y. This growth was across all product categories, with Furniture, Patio, Lawn & Garden being
the largest contributor.
The Company added 37 new suppliers and 20,000 products during the quarter taking the total to 1783
Suppliers & 555,000 Unique Products.
The Top Product Categories by Revenues during Q2 FY2016-17 were

Product Categories

% of Sales

Furniture, Patio, Lawn & Garden

34%

Home Improvement & Art Crafts

16%

Sports & Outdoor

15%

Kitchen, Dining & Appliances

12%

Toys, Games & Baby

11%

Copyright IntraSoft Technologies Limited, All Rights Reserved.

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INTRASOFT TECHNOLOGIES LIMITED REPORTS Q2 REVENUES UP 42% TO Rs. 219 Cr.

Musical Instruments & Gadgets

10%

Others

2%

Orders:
Particulars

Q2 FY 2016-17

Q2 FY 2015-16

Growth (%)

669,714

377,083

78%

Orders

The Number of Orders grew tremendously over the quarter from 377,083 to 669,714, a growth of
78% Y-o-Y. Our proprietary technology platform allows us to scale order volumes with minimal human
intervention, enabling cost savings as we grow volumes.
The Number of Orders Shipped during the last 5 quarters were

Quarter

Orders

Q2 2016-17

669,714

Q1 2016-17

623,299

Q4 2015-16

531,070

Q3 2015-16

767,186

Q2 2015-16

377,083

Gross Margin:
Particulars

Q2 FY 2016-17

Q2 FY 2015-16

Improvement (%)

Cost of Goods Sold (Inc. Shipping)

80.2%

82%

1.8%

Gross Margin

19.8%

18%

As the sales momentum continues to improve, we are continuing to see an improvement in Gross
Margins from our existing products and suppliers, evidenced in our margin improvement from 18% to

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INTRASOFT TECHNOLOGIES LIMITED REPORTS Q2 REVENUES UP 42% TO Rs. 219 Cr.

19.8% Y-o-Y. As the sales momentum continues to improve, the overall Cost of Goods Sold will trend
downwards as we derive benefits from economies of scale.
Inventory:
As on 30th September, 2016, Inventory at our fulfillment centers was Rs. 58.32 Cr.
Inventory Turnover, average (Trailing Twelve Months) was 10.7, reflecting an increase in inventory for
the Holiday Season.
Additionally, Goods in transit as on 30th Sept 2016 was Rs. 24.23 Crore to cater to the Holiday Season
demand.
Accounts Payable Days:
As on 30th September, 2016, Accounts Payable days (Trailing Twelve Months) for our E-Commerce
Business stood at 17 Days up from 14 days in the previous quarter, reflecting improvement in our
Working Capital efficiency.
Accounts Receivable Days (Trailing Twelve Months) remained constant at 4 Days.
Revenue per Employee:
Revenue per employee increased from Rs. 278 Lakhs (TTM Q2-FY16) to Rs. 462 lakhs (TTM Q2-FY17)
as we increased investments in our technology, leading to higher levels of automation. We expect
gains in productivity to continue as automation and process optimization drive efficiencies.
OTHER INCOME
The increase in Other Income was due to switching among schemes in the Mutual Fund Portfolio.
CONFERENCE CALL
IntraSoft Technologies Limited will host a conference call to discuss the Quarterly & Half Yearly
Financial Performance for Q2 FY2016-17 on Tuesday, November 8th, 2016 at 12.30 p.m. (IST).
Investors and participants can access the call by dialing either of the following access numbers.

Access Numbers
Primary Number:

+91 22 3960 0711

Secondary Number:

+91 22 6746 8311

Toll Free Number:

USA: 1866 746 2133


UK: 0 808 101 1573
Singapore: 800 101 2045
Hong Kong: 800 964 448

The Participants from IntraSoft Technologies Ltd would be Mr. Arvind Kajaria (Managing Director)
and Mr. Mohit Kumar Jha (Chief Financial Officer). An archive of the conference call transcript will
be available at www.itlindia.com.

Copyright IntraSoft Technologies Limited, All Rights Reserved.

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INTRASOFT TECHNOLOGIES LIMITED REPORTS Q2 REVENUES UP 42% TO Rs. 219 Cr.

ABOUT INTRASOFT TECHNOLOGIES LIMITED:


IntraSoft Technologies Limited owns & operates 123Stores, an Online E-Commerce Retailer.
123Stores, Inc. is a multi-channel E-Commerce
combines supply chain logistics with real time
experience. The Company is ranked #262 on the
#1,641 in Inc. 5,000 list of fastest growing private

retailer with a strong technology backbone that


customer data to create a compelling shopping
Internet Retailers 2015 Top 500 list and is ranked
US companies.

IntraSoft Technologies Limited also owns & operates 123Greetings.com, the world's leading online
destination for human expressions reaching 95 million visitors annually.

FOR MORE INFORMATION PLEASE CONTACT:


Pranvesh Tripathi
Company Secretary
IntraSoft Technologies Limited
A-502, Prathamesh,
Rahguvanshi Mills Compound,
Senapati Bapat Marg, Lower Parel.
Mumbai 400 013
Phone: 91-22-2491-2123 | Fax: 91-22-2490-3123 | Email: intrasoft@itlindia.com
Ms. Purvangi Jain
Business Development Head
IntraSoft Technologies Limited
Phone: 91-22-2491-2123 | Fax: 91-22-2490-3123 | Email: purvangi.jain@itlindia.com
Mr. Shogun Jain
Investor Relations Advisors
Strategic Growth Advisors Pvt. Ltd.
Phone: 91-22-6114-6619 | Email: jshogun@sgapl.net
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS:
This document includes certain forward-looking statements. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors which may cause the actual results,
performance or achievements to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Such forward-looking
statements are based on numerous assumptions regarding the Companys present and future business
strategies and the environment in which the Company operates in the future. IntraSoft Technologies
Limited may make additional written and oral forward looking statements and is under no obligation to
update or alter its forward-looking statements to reflect actual results, changed assumptions or other
factors.

Copyright IntraSoft Technologies Limited, All Rights Reserved.

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